Property deals in Dubai are going through the roof…

The total value of land transactions in Dubai hit Dh2.77 billion last week, of which sales exceeded Dh1.83 million. The total value of mortgages during the period was Dh932.94 million, according to the Land Department.

A total of 44 sale transactions were registered with the department by the end of the week, the most valuable of which was a plot in Emirates Hills-2 that was sold for Dh480 million.

The next prominent sales saw a second plot in Marsa Dubai acquired for Dh415.8 million and another in Trade Centre-2 for Dh220.96 million.

The Palm Jumeira area was the most active in terms of the week's sales, with some nine transactions. Al Barsha-2 followed with three sales.

During the period, Emirates Hills-2 recorded the highest turnover by value, at Dh503.33 million, followed by the Marsa Dubai area at Dh415.8 million, and the Trade Centre-2 area at Dh220.97 million.

The largest area sold was 38,8142 square feet in the Wadi Al Amardi area, which went for Dh27.17 million.

A 26,2762 square-foot plot in the Al Aweer-1 Area was acquired for Dh13.14 million, while a 11,4689 square-foot plot on Shaikh Zayed Road was sold for Dh146.17 million.

Last week saw 23 mortgages worth Dh858.01 million being registered, the most significant of which was Dh384 million for an area in Emirates Hills-2. Another mortgage of Dh120 million was for an area in Oud Metha.